“For the next year or so, as long as the economy grows 1.5-2 percent,
and you have easy money, this market can go higher. Growth is slow.
Earnings growth is also slowing down. Top line and bottom line are not
as good as they used to be, but margins are high. They could correct,
somehow, over time. This might lead to a generalized credit and equity
and asset bubble in the next year or two, followed by a crash.”
